Tribune Looking To Sell Newspapers: Bloomberg

Tribune Reportedly Looking To Sell Newspapers
CHICAGO, IL - JUNE 07: Vehicles travel along Wacker Drive near the Tribune Tower (right center), headquarters of the Tribune Company, on June 7, 2012 in Chicago, Illinois. The Tribune Company, owner of the Chicago Tribune, Los Angeles Times and several broadcasting outlets across the country, returns to court today to face one of the final hurdles before possibly exiting bankruptcy. (Photo by Scott Olson/Getty Images)
CHICAGO, IL - JUNE 07: Vehicles travel along Wacker Drive near the Tribune Tower (right center), headquarters of the Tribune Company, on June 7, 2012 in Chicago, Illinois. The Tribune Company, owner of the Chicago Tribune, Los Angeles Times and several broadcasting outlets across the country, returns to court today to face one of the final hurdles before possibly exiting bankruptcy. (Photo by Scott Olson/Getty Images)

The Tribune Company is seeking to sell some of its newspapers as it prepares to exit bankruptcy, Bloomberg reported on Tuesday.

The company currently owns eight newspapers, including its flagship Chicago Tribune, the Los Angeles Times and the Baltimore Sun. It has been through a very troubled history recently, with corporate scandals, massive debts and a lengthy bankruptcy process from which it is about to emerge.

Bloomberg said that Tribune is talking to bankers about a possible sale, though it might siphon off its smaller titles first.

Rupert Murdoch has reportedly been very interested in buying the Tribune and the Times, though many local investors are also eager to snap up the Los Angeles title. Bloomberg said that he plans to take a "close look" at the papers once they become available.

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